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James Stephen Fossett April 22, � September 3, was an American businessman and a record-setting aviator, sailor, and adventurer. He was the first person to fly solo nonstop around the world in a balloon and in a fixed-wing aircraft.
He made his fortune in the financial services industry and held world records for five nonstop circumnavigations of the Earth: as a long-distance solo balloonist , as a sailor , and as a solo flight fixed-wing aircraft pilot.
A fellow of the Royal Geographical Society and the Explorers Club , Fossett set more than one hundred records [ verification needed ] in five different sports, sixty of which still stood at the time of his death. Fossett disappeared on September 3, while flying a light aircraft over the Great Basin Desert , between Nevada and California.
Extensive searches proved unsuccessful, and he was declared legally dead in February of the following year. In September , a hiker found Fossett's identification cards in the Sierra Nevada Mountains , California, leading shortly after to the discovery of the plane's wreckage. Fossett's only known remains, two large bones, were found half a mile m from the crash site, probably scattered by wild animals. Fossett's interest in adventure began early. In college at Stanford University , Fossett was already known as an adventurer; his Sigma Alpha Epsilon fraternity brothers convinced him to swim to Alcatraz and raise a banner that read "Beat Cal " on the wall of the prison, closed two years previously.
He made the swim, but was thwarted by a security guard when he arrived. Louis , Missouri, where he was later a longtime member of the Board of Trustees. Fossett later said, "For the first five years of my business career, I was distracted by being in computer systems, and then I became interested in financial markets.
That's where I thrived. Fossett then became a successful commodities salesman in Chicago, first for Merrill Lynch in , where he proved a highly successful producer of commission revenue for himself and that firm. He began working in for Drexel Burnham , which assigned him one of its memberships on the Chicago Board of Trade and permitted him to market the services of the firm from a phone on the floor of that exchange.
In , Fossett began the process that eventually produced his enduring prosperity: renting exchange memberships to would-be floor traders, first on the Chicago Board Options Exchange. After fifteen years of working for other companies, [5] Fossett founded his own firms, Marathon Securities and Lakota Trading, from which he made millions renting exchange memberships.
He earned millions renting floor trading privileges exchange memberships to hopeful new floor traders, who also paid clearing fees to Fossett's clearing firms in proportion to the trading activity of those renting the memberships. In , the trading volume of its rented memberships was larger than any other clearing firm on the Chicago exchange. Those same traits help me in adventure sports.
Fossett said he did not participate in any of the "interesting things" he had done in college during his time in exchange-related activities: "There was a period of time where I wasn't doing anything except Mahogany Yachting Society Quiz working for a living.
I became very frustrated with that and finally made up my mind to start getting back into things. Fossett later sold most of his business interests, [2] [15] although he maintained an office in Chicago until Fossett became well known in the United Kingdom for his friendship with billionaire Richard Branson , whose Virgin Group sponsored some of Fossett's adventures. Steve Fossett was well known for his world records and adventures in balloons, sailboats, gliders, and powered aircraft.
He was an aviator of exceptional breadth of experience. He wanted to become the first person to achieve a solo balloon flight around the world finally succeeding on his sixth attempt, in , becoming the first person to complete an uninterrupted and unrefueled solo circumnavigation of the world in any kind of aircraft. He set, with co-pilot Terry Delore, 10 of the 21 Glider Open records, including the first 2, km Out-and-Return, the first 1, km Triangle and the longest Straight Distance flights.
His achievements as a jet pilot in a Cessna Citation X include records for U. Transcontinental, Australia Transcontinental, and Round-the-World westbound non-supersonic flights. In , Fossett made the first solo, nonstop unrefueled circumnavigation of the world in an airplane, in 67 hours in the Virgin Atlantic GlobalFlyer , a single-engine jet aircraft. In , he again circumnavigated the globe nonstop and unrefueled in 76 hours, 45 minutes in the GlobalFlyer , setting the record for the longest flight by any aircraft in history with a Mahogany Yachting Society 7-1 distance of 25, statute miles 41, km.
On August 29, , he set the world altitude record for gliders over El Calafate , Argentina at 15, metres 50, ft. On February 21, , Fossett landed in Leader, Saskatchewan , Canada, after taking off from South Korea , becoming the first person to make a solo flight across the Pacific Ocean in a balloon.
In , he became the first person to fly around the world alone, nonstop in any kind of aircraft. He launched the story high balloon Spirit of Freedom from Northam, Western Australia on June 19, and returned to Australia on July 3, , subsequently landing in Queensland.
Duration and distance of this solo balloon flight was 13 days, 8 hours, 33 minutes 14 days 19 hours 50 minutes to landing , 20, Only the capsule survived the landing; it was taken to the Smithsonian Institution in Washington, D.
While Fossett had financed five previous tries himself, his successful record-setting flight was sponsored by Bud Light. Along with sponsorship, that payout meant that in the end Fossett did not have to spend any of his money other than for initial expenses. Fossett was one of sailing's most prolific distance record holders. Speed sailing was his specialty and from to he dominated the record sheets, setting 23 official world records and nine distance race records.
He is recognized by the World Sailing Speed Record Council as "the world's most accomplished speed sailor. In October , Fossett and his crew set a transatlantic record of 4 days 17 hours, shattering the previous record by 43 hours 35 minutes; an increase in average speed of nearly seven knots. In early , Fossett, as skipper, set the Around the world sailing record of 58 days, 9 hours in Cheyenne with a crew of In , Fossett held the world record for crossing the Pacific Ocean in his foot 38 m sailboat, the PlayStation , which he accomplished on his fourth try.
Complete Summary of Sailing Records [24]. At the time of his death a submarine, DeepFlight Challenger , was under construction to enable Fossett to be the first solo submariner to reach the Challenger Deep. The new record for fastest flight was accomplished with a Zeppelin NT , at a recorded average speed of The previous record was In , Fossett was one of only 17 pilots in the world licensed to fly the Zeppelin. Fossett made the first solo nonstop unrefueled fixed-wing aircraft flight around the world between February 28 and March 3, He took off from Salina, Kansas , where he was assisted by faculty members and students from Kansas State University , and flew eastbound with the prevailing winds, returning to Salina after 67 hours, 1 minute, 10 seconds, without refueling or making intermediate landings.
His average speed of It was designed and built by Burt Rutan and his company, Scaled Composites , for long-distance solo flight. The fuel fraction , the weight of the fuel divided by the weight of the aircraft at take-off, was 83 percent. On February 11, , Fossett set the absolute world record for "distance without landing" by flying from the Kennedy Space Center , Florida, around the world eastbound, then upon returning to Florida continuing across the Atlantic a second time to land in Bournemouth , England.
The official distance was 25, statute miles 41, km and the duration was 76 hours 45 minutes. The next month, Fossett made a third flight around the world in order to break the absolute record for "Distance over a closed circuit without landing" with takeoff and landing at the same airport. He took off from Salina, Kansas Mahogany Yachting Society 2019 on March 14, and returned on March 17, after flying 25, statute miles 40, km. Fossett contributed the GlobalFlyer to the Smithsonian Institution 's permanent collection.
Fossett set two U. He returned to San Diego, then flew the same course as co-pilot for fellow adventurer Joe Ritchie in Ritchie's turboprop Piaggio Avanti. Their time was 3 hours, 51 minutes, 52 seconds, an average speed of Fossett also set the east-to-west transcontinental record for non-supersonic fixed-wing aircraft on September 17, He flew from Jacksonville, Florida to San Diego, California in 3 hours, 29 minutes, at an average speed of Their flight from St.
John's, Newfoundland , Canada to Clifden , County Galway , Ireland in the open cockpit Vickers Vimy replica took 18 hours 25 minutes with 13 hours flown in instrument flight conditions. Fossett and co-pilot Einar Enevoldson flew a glider into the stratosphere on August 29, The flight set the Absolute Altitude Record for gliders at 15, metres 50, ft. Fossett and Enevoldson had made previous attempts in three countries over a period of five years before finally succeeding with this record flight.
This endeavor is known as the Perlan Project. As a young adventurer, Fossett was one of the first participants in the Worldloppet , a series of cross country ski marathons around the world. While he had little experience as a skier, he was in the first group of 'citizen athletes' to participate in the series debut in And in , he became the eighth skier to complete all 10 of the long distance races, earning a Worldloppet medallion. He has also set cross-country skiing records in Colorado, setting an Aspen to Vail record of 59 h, 53 min, 30 s in February , and an Aspen to Eagle record of 12 hr, 29 min in February Fossett was a lifelong mountain climber and had climbed the highest peaks on six of the seven continents.
Fossett competed in and completed premier endurance sports events, including the 1,mile 1, km Iditarod Trail Sled Dog Race , in which he finished 47th on his second try in after training for five years.
He became the th person to swim across the English Channel on his fourth try in September with a time of 22 hours, 15 minutes. Fossett raced cars in the mids and later returned to the sport in the s. Fossett tried six times over seven years for the first solo balloon circumnavigation. Louis , Missouri. Washington University in St. Louis served as control center for four of the six flights, including the record-breaking one.
After taking too much fuel to cross the Atlantic Ocean and circling Libya for 12 hours while officials decided whether or not to allow him into their airspace, Fossett did not have enough fuel to finish the flight. That year, Fossett flew farther for less money than better-financed expeditions including one supported by Virgin Galactic founder Richard Branson in part due to his ability to fly in an unpressurized capsule, a result of his heavy physical training at high altitudes.
He credited his experience in Scouting as a foundation for much of his later success. Scouting values have remained with me throughout my life, in my business career, and now as I take on new challenges. Fossett previously had served on the World Scout Committee. Fossett was honored with the Distinguished Eagle Scout Award in He received the Explorers Medal from the Explorers Club following his solo balloon circumnavigation.
He received the Harmon Trophy , given annually "to the world's outstanding aviator and aeronaut", in and At a. When he failed to return, searches were launched about six hours later. There was no signal from the plane's emergency locator transmitter ELT designed to be automatically activated in the event of a crash, but it was of an older type notorious for failing to operate after a crash. It was first thought that Fossett may have also been wearing a Breitling Emergency watch with a manually operated ELT that had a range of up to 90 miles km , but no signal was received from it.
On September 13, Fossett's wife, Peggy, issued a statement clarifying that he owned such a watch but was not wearing it when he took off for the Labor Day flight. Fossett took off with enough fuel for four to five hours of flight, according to spokesperson Major Cynthia S.
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